Business contest being launched in Rochester; Area innovators, high tech start ups to compete for $10,000 prize

Monday

Dec 17, 2012 at 3:15 AMDec 17, 2012 at 12:06 PM

By John Nolanjnolan@fosters.com

ROCHESTER — Jamie Coughlin, who serves as chief executive officer and entrepreneur in residence at the abi Innovation Hub, NH’s largest and oldest business incubator and innovation center, was in Rochester on Dec. 5 to visit business and community leaders. His purpose was to explain the concept of a planned $10,000 contest for innovative and start-up companies, and to seek sponsorship for the initiative

The Manchester-based abi Innovation Hub is a non-profit 501(c)(3) organization that aims to attract, mentor and foster the growth and success of technology start-ups and innovative companies.

Coughlin was in Rochester at the invitation of Mary Ellen Humphrey of the city Economic Development office.

“We have spent two days meeting with business and financial leaders,” said Humphrey, “and we are pretty confident about raising the money (for the contest.)”

The contest aims, in particular, to attract entries from manufacturers and technology-based companies in the Seacoast area, and it is being planned for Feb. 13 at a yet-to-be-revealed Rochester location. Humphrey encourages everyone interested in taking part to contact her at Rochester Economic Development Department at 335-7522 or maryellen.humphrey@rochesternh.net.

She said that more details on the contest will be made public as things get firmed up, and that entry forms are now available. Completed applications will be accepted from Jan. 1 through Jan. 31, 2013.

“Financial companies are very interested in this initiative, as it helps them identify startups with growth potential,” she said.

Before the February contest, a New Hampshire-based venture capital group, Borealis Ventures, will visit Rochester. The date for this visit, according to Humphrey, is likely to be Jan. 24 at a venue to be announced. The invitees to this breakfast gathering will include business people, Chamber and Main Street members, city councilors, Great Bay Community College and others.

Coughlin, a Princeton graduate now in his 30s, held a contest for innovators and startups in September in Merrimack, with $100,000 in prize money.

“Over 300 people showed up to see the six finalists,” said Coughlin.

That prize money was split among three winners, but Coughlin pointed out that everyone who took part captured the attention of venture capitalists who are looking for companies with potential growth in which to invest.